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The Bank of Agriculture is launching a N200bn intervention built on guaranteed minimum prices, including a N350,000 per tonne maize floor, positioning itself as lender and offtaker for staple crops.

Food market surveillance for week 43 shows maize down 1.6%, cashew down 2.7% and palm oil up 2.8%, even as September food inflation cooled to 19.59% year on year, per Useagrios data and NBS.

Mixed grain prices as rice firms on selective demand while maize remains under pressure.

Maize fell to N319.93/kg below the N350/kg GMP as harvest supply pressures mount.